AmerisourceBergen Q4 Adj. Profit Beats Estimates, Trims FY16 EPS View

(RTTNews) - AmerisourceBergen Corp. (ABC) Thursday announced first quarter net profit of $330.38 million compared to net loss of $199.95 million in the prior year. On a per share basis, earnings were $1.46, compared to a loss per share of $0.91 last year. Adjusted earnings was $1.27 per share.

On average, 16 analysts polled by Thomson Reuters expected the company to earn $1.25 per share. Analysts estimates usually exclude special items.

Revenue for the quarter increased 9.3 percent to $36.709 billion from $33.588 billion in the prior year. Wall Street was looking for revenue of $36.86 billion.

Steven Collis, CEO of the company said, "Looking ahead, the decline in generic inflation, the early contract renewal, and a reduction in our expectations regarding the contribution from generic launches over the course of the year will make it difficult for us to achieve the high end of our original adjusted earnings per share range for fiscal 2016. Therefore, we now expect our adjusted diluted earnings per share to be in the range of $5.73 to $5.83 for fiscal 2016."

Earliers in October, the company was looking for fiscal 2016 adjusted earnings per share in a range of $5.73 to $5.90.

The company further reconfirmed its revenue growth outlook for the fiscal 2016 in the range of 8 to 10 percent.

Analysts are looking for earnings of $5.83 per share on revenue of $148.18 billion.

AmerisourceBergen has signed a distribution agreement with Publix.